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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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  "authorName": "Jeffrey C. Smith",
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  "notes": "The slide uses a combination of a line chart to show financial decline and a timeline to show management's shifting narrative.",
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      "text": "Line chart showing revenue estimates for KYMIRAH and YESCARTA from Feb-14 to Aug-18.",
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      "text": "While Celgene management has argued that JCAR017 and bb2121 have demonstrated a superior safety profile in early-stage trials, their recent commentary on timelines for approval has become more measured.",
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      "text": "For example, Chimeric Antigen Receptor T-cell (“CAR-T”) therapies, which account for two of the five near-term product launch opportunities, are prime examples of a category where sell-side revenue estimates have massively declined since the drugs have come to market.",
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      "text": "Source: Company Filings and Transcripts.",
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      "text": "Source: Wall Street Estimates, Bloomberg.",
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      "text": "2022 Wall Street Revenue Estimates For Approved CAR-T",
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